NYDIG: Bitcoin's Correlation with U.S. Stocks Rises, But Still Offers Portfolio Diversification Value

According to a report by Golden Finance, NYDIG's Head of Research Greg Cipolaro stated in the latest market report that although Bitcoin's recent correlation with U.S. stock markets (such as the S&P 500 and Nasdaq 100) has risen to approximately 0.5, stock market factors only explain about 25% of Bitcoin's price fluctuations. The remaining fluctuations primarily stem from factors within the crypto market itself, including capital inflows into Bitcoin funds, changes in derivatives positions, network adoption, and shifts in the regulatory environment. He believes the current price linkage reflects more of the macro liquidity and risk appetite environment rather than a structural binding between Bitcoin and tech stocks. Therefore, Bitcoin still holds portfolio diversification value. (CoinDesk)